<span>White Papers</span>

White Papers


More than 41 million Americans collectively owe nearly $1.3 trillion on student loans and more than 1 million borrowers default on these loans annually.


Insurance Companies and Systemic Risk

By James Kwak


 “We suggest that a mutual utility [to replace Fannie Mae and Freddie Mac], with incentive alignment and appropriate governance controls, could allow robust competition among lenders for mortgage origination...” wrote New York Fed economists Patricia Mosser, Joseph Tracy, and Joshua Wright in a new white paper on housing finance reform.  “…While certainly not riskless, our proposed utility structure is less risky than most alternatives."